Software as a Service Billing

Different SaaS Marketing Strategies for Companies offering Software as a Service Billing Services to Tackle Customer Churn

Over the years Software as a Service Billing and SaaS companies have globally taken over the economy. Different industries are shifting to this technology and this influx has also allowed companies to target more customer bases globally as internet access has increased. But what does this spurring development mean for Software as a Service Billing and SaaS businesses? It is an opportunity and a challenge at the same time. The subscription-based model has now become a favorite for many companies who are looking to increase their profitability. The Software as a Service Billing presents a challenge as many companies struggle to present value-added products each time. Maintaining recurring revenue has put entire subscription-based models on the risk of facing customer churn. While the boom of a large consumer base is appealing, growing your SaaS company means having a strong marketing strategy that will cater to your business goals while harnessing the huge market base.

Customer churn and how can you stop it?

In our experience as providers of Software as a Service Billing services and tools, SubscriptionFlow can highlight why some reasons why companies face churn. Aside from the obvious failure of marketing tools, losing customers has a lot to do with your recurring billing software. When your Software as a Service Billing is not backed by tools like smart dunning, you are left with outstanding bills and have to cancel the subscription. Many companies think pre-dunning tactics like sending customer reminders before their renewal dates will work but this approach mostly results in annoyance and discomfort on the customer’s part. This is why you need payment gateways for processing payments based on set retry logic and automated workflows for email reminders. We have designed this tool to help our users adopt a reactive approach to tackling churn. Your marketing will eventually be able to attract more customers but before you can implement those tools, you need recurring billing software that will actively work on your customer retention.

SaaS businesses need a different approach than other businesses diverting towards a more customer-centric approach. So what does this mean? This implies that Software as a Service Billing must provide value-added products each time or face churn. We have mentioned above how SaaS companies are dealing with churn. Customer retention is just as important for your marketing strategies as an acquisition. Having a loyal and satisfied customer base will improve your revenue growth, all of which depend on recurring renewals. Our reporting dashboard has facilitated Software as a Service Billing as it offers real-time analytics and SaaS metrics like monthly recurring revenue, customer churn, annual recurring revenue, etc. Coming to the approach for SaaS marketing, it has to be focused on reaching the right customer and converting them.

Essential marketing tools targeting Software as a Service Billing

For SaaS products, the sales cycle is based on acquiring new customers and convincing paying customers to stick around for upgrades and recurring purchases. In our experience, when it comes to content creation and SEO tools, the most important goal is to achieve readability. Creating content that informs users is important. Why they need your SaaS product and how your subscriptions will improve their life is an example of the subject your marketing team can target. At SubscriptionFlow, our team has seen an increase in the use of our tools once we expanded our knowledge base on how Software as a Service Billing tools can be used. Helping searchers with resources in the form of a helpful blog post on WordPress or any other blogging site is important. Content marketing via on/off page blogging and the content will also improve your visibility on Google’s search engine. Businesses all over the world have been generating more leads and attracting more visitors to this website through content marketing. Content can also be used for other forms of marketing like pay per click advertising and social media posts on your accounts. SEO marketing is an evolved form of content marketing that involves keyword tools, internal linking, and off-page posing which is based on link building. All of these tools will help you attract more leads and convert them.

Email marketing and drip campaigns are more targeted towards informing customers of exciting new deals, promotions, conversions, and informing them of new content. HubSpot is an essential platform for designing your inbound marketing tools which are offered in its Marketing Hub. It includes email templates and automating campaigns for sending these email newsletters. Moreover, drip campaigns can be used for nurturing new leads based on their contact information saved using our CRM tools offered by SubscriptionFlow. Your marketing strategies should also be centered on letting the customer try out your SaaS products for free. Our Software as a Service Billing tools allows our users to offer trials and freemium to their customers which are known for improving retention.

With SubscriptionFlow, you do not have to keep track of their trial period or charging them for upgrading manually. Our invoicing tools will automatically convert those customers and then charge them based on their renewal date every month. You can create their invoices and bills within a few clicks and this will improve your retention twofold. All in all, the subscription business model can be successful if you are using the right recurring billing system to enrich leads and satisfy your customers. SaaS marketing is focused on creating content and advertisement focused on informing potential leads to your product and converting the team.